Setting your margins
When selling your books via Bookmundo, you get to decide how much your book is going to cost, and by extension, how much you’re going to make every time someone buys a copy! We’ll transfer you your earnings every month. Not too bad eh?
You get to set your profit margins in the ‘Price’ step. Here you select the retail price for your book and choose where it will be sold. You have several sales channels to choose from, and your margin may vary depending on the channel. Your margin will be highest when you sell through our webshop, the author webshop you create using our platform, or your own website. Selling your book via bookstores or other third-party retailers like Amazon will result in a lower margin because these third parties take a big cut of the sales price. If you want to get an idea of how much you can earn by selling your book, check out our price calculator.
Once your book is published, it will appear in the webshops you’ve chosen (within 1 day on our webshop, and within about a week via other sales channels) and can be purchased. To maximise your profit per sold copy, try to direct customers to your author webshop, the Bookmundo webshop or your own website. Every time your book is bought, you earn money. You can track this in ‘Sales results’, where you can see which books were sold, when they were sold, and how much you earned in royalties from those sales. If you’ve sold a print book, your sales summary will be updated as soon as the order is shipped. We update this information daily. In the case of an ebook sale, it’s slightly different: sales through our webshop and your author webshop are updated daily, and sales via bookstores are updated monthly. If you buy your book yourself, e.g. as a proof copy, you’ll be able to see this in ‘My orders’ instead of ‘Sales results’.
Payment
We pay you your royalties monthly if the total amount exceeds £10. If the total amount is lower than £10, we’ll pay it at the end of the year (Note: we do not transfer royalties if the total amount is below £5). In order to receive your royalties, you need to have filled in your account number and the name of the account holder in your account settings; otherwise, we have no idea where to send the money. Naturally, we take every precaution to ensure the safety of your data.
Your royalty overview can be found under ‘Sales results’ in the ‘Royalties’ tab. Here you’ll be able to review your entire sales history, all the royalty payments we’ve made, the amount yet to be paid, and the date of the following payment. The royalties you earn each calendar month will be transferred to you in the third week of the following calendar month. For example: if you made £1000 pounds in book sales in January, you’ll receive that money in the third week of February.
In this tab you’ll also be able to download handy documentation of all the transactional data for all your administrative needs. Boring, but necessary!
Tips
- Encourage customers to buy your book in your author webshop or the Bookmundo store whenever you can. This can net you up to 60% higher margins.
- Has your account number changed? Change it immediately in ‘Account settings’ to avoid unnecessary payment hassle.
- Would you like to donate your earnings to charity? Enter the name and account number of the charity in ‘Account settings’.
- Download your royalty statements. You never know when you might need them!
- Keep good records of all costs you incur for publishing your book; these will be useful for your tax return.